Insider Monkey published an article: Joel Greenblatt’s Portfolio and Recent Buys. Greenblatt is an investor and a hedge fund manager who heads Gotham Asset Management. Famous for their “Magic Formula,” Gotham Asset Management invests primarily in merger arbitrage.
Here is a summary of Joel Greenblatt’s Portfolio and Recent Buys.
The first would be from eBay, which Gotham Asset Management currently owns more than 300,000 shares. As of 2021, the shares of eBay rose by 61% and outperformed the broader market index. Another one would be in Berkshire Hathaway Inc. Their shares grew by 12% and increased their 12 month gain by 34%.
Howmet Aerospace had a sell-off in early 2020; however, they have significantly recovered in the subsequent quarters. Currently, their stock prices are up by 10%. Walmart had a good performance in 2020; however, it was underperforming in the early part of this year. Greenblatt reduced his stake by 13% in Q4 of 2020.
Oracle Corporation is another company wherein Greenblatt reduced his stake. In Q4 of 2020, he lowered his position by 17%; the shares of Oracle, on the other hand, grew by 50% in the last twelve months. Greenblatt also reduced his position in Facebook by 5%, capitalizing the share price appreciation during the pandemic year.
Joel Greenblatt’s hedge fund owns 26,000 shares in Alphabet last year, even after they reduced their stake by 5%. In 2021, the stock prices of Alphabet jumped up by 19% extending their twelve-month gain by 73%. Microsoft Corporation is the third-largest stock holding in Greenblatt’s portfolio. Due to their revenue growth trend, shares are up in the early part of 2021; it has increased by 74% over the last 12 months.
Greenblatt’s hedge fund owns 17,000 shares in Amazon, down by almost 8% compared to the other years. The prices of Amazon were down, too, despite strong growth during the pandemic. Finally, Greenblatt’s top stock pick would be from Apple Inc. The technology giant stock prices went down by 8% as more investors are eyeing companies that would have an excellent yield in post-pandemic recovery.
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